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*****For immediate use November 10, 2003

NEC & SVA Established TFT LCD Joint Venture in China




TOKYO, November 10, 2003 - NEC Corporation (NEC) and SVA (Group) Co., Ltd. (SVA) today announced that the two companies have established a TFT LCD joint venture company in Shanghai, China, "Shanghai SVA NEC Liquid Crystal Display Co., Ltd."

Shanghai SVA NEC Liquid Crystal Display Co., Ltd. will plan, develop and manufacture TFT LCD panels and modules for PCs, monitors and TVs, while focusing on China's huge market as its main sales target. The joint venture company is the first facility in China that will be capable of handling every aspect of TFT LCD manufacturing from the initial array and cell process to the final production line phase.

The new company's capital totals 50 billion yen (controlling share, SVA Group: 75%, NEC: 25 %.). With capital expenditure forecast at 85 billion yen, a state-of-the-art fifth-generation production line (glass base: 45 thousand sheets per month) with a large-size glass substrate of 1,100mm x 1,300mm, is scheduled to begin operation in October, 2004. The facility will employ an initial workforce of approximately 1200 staff.

In April, 2003 NEC separated its LCD business by way of corporation separation and established a new company, NEC LCD Technologies Ltd. (NEC LCD Technologies). NEC LCD Technologies develops, designs, manufactures and sells color LCDs.
The company focuses on providing TFT LCD solutions designed to meet the requirements of industrial and high-value added display applications. For commodity products, NEC aims to strengthen its business model by carrying out product development, production and sales through the new joint venture company in China.

Shanghai SVA NEC Liquid Crystal Display Co., Ltd.
Company name: Shanghai SVA NEC Liquid Crystal Display Co., Ltd.
President: Zhou JiaChun
Location: 3388 Huaning Road, Minhang District, Shanghai, China
Capital: 50 billion yen (SVA Group 75%, NEC 25%)
Start of operation: October 2004 (Exact date to be decided)
Production size: Glass base: 45 thousand sheets per month
Employee number: 1200 (At start of operation)
Major Operations: Product planning, development, manufacturing and sales of TFT color LCD modules

SVA (Group) Co., Ltd. (SVA)
Company name: SVA (Group) Co., Ltd. (SVA)
President: Xu Weihu
Location: 3800 Jindu Road, Minhang District, Shanghai, China
Capital: 2.09 billion RMB
Sales: 38.3 billion RMB (FY2001, 574.5 billion yen)
Established: 1995
Employee number: 26,400
Major Operations: Holding company for companies that perform product development, manufacturing and sales of household electric appliances, home communication terminals and CRT, PDP, STN LCD displays

About SVA (Group) Co., Ltd.
SVA (Group) Co., Ltd. (SVA) was founded in 1995. Today, SVA is the largest electronics group in China. It has over 20,000 employees worldwide, R&D in US, China, and Taiwan, and production facilities in China, Argentina, and South Africa. International Corporate Partnerships with fortune 500 companies include Hughes, InFocus, JVC, Kenwood, Motorola, National, Samsung, Sharp, Siemens, SONY, Toshiba, and VDO. For more information, please visit the SVA home pages at: http://www.sva.com.cn

About NEC Corporation
NEC Corporation (NASDAQ: NIPNY) (FTSE: 6701q.l) is one of the world's leading providers of Internet, broadband network and enterprise business solutions dedicated to meeting the specialized needs of its diverse and global base of customers. Ranked as one of the world's top patent-producing companies, NEC delivers tailored solutions in the key fields of computer, networking and electron devices, by integrating its technical strengths in IT and Networks, and by providing advanced semiconductor solutions through NEC Electronics Corporation. The NEC Group employs more than 140,000 people worldwide and had net sales of approximately $40 billion in the fiscal year ended March 2003. For additional information, please visit the NEC home page at: http://www.nec.com.

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